Pzena Investment Management LLC Has $273,000 Stock Position in Cencora, Inc. (NYSE:COR)

Pzena Investment Management LLC lowered its stake in Cencora, Inc. (NYSE:COR) by 18.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 980 shares of the company’s stock after selling 224 shares during the period. Pzena Investment Management LLC’s holdings in Cencora were worth $273,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in COR. Exchange Traded Concepts LLC raised its position in shares of Cencora by 4.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after buying an additional 48 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of Cencora by 6.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company’s stock worth $427,000 after acquiring an additional 93 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Cencora by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 5,748 shares of the company’s stock worth $1,598,000 after acquiring an additional 2,087 shares in the last quarter. Westpac Banking Corp boosted its position in shares of Cencora by 13.5% during the 4th quarter. Westpac Banking Corp now owns 21,895 shares of the company’s stock worth $4,919,000 after acquiring an additional 2,596 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after acquiring an additional 104 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

COR stock opened at $294.58 on Friday. The stock has a market cap of $57.10 billion, a PE ratio of 34.17, a P/E/G ratio of 1.48 and a beta of 0.57. The company has a 50-day moving average price of $292.19 and a 200 day moving average price of $271.61. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to analysts’ expectations of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. Cencora’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.80 earnings per share. Equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora’s dividend payout ratio (DPR) is 25.52%.

Analyst Ratings Changes

A number of analysts have weighed in on COR shares. Jefferies Financial Group raised their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. UBS Group boosted their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Robert W. Baird upped their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Bank of America upped their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.83.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the transaction, the chief executive officer owned 47,582 shares of the company’s stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,127 shares of company stock valued at $9,812,296. 10.80% of the stock is currently owned by company insiders.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.